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This Home Info makes you aware of the details that can improve the appeal of the house and lead to a sale.
Realize why you are selling your home. Your motivation to sell is the determining factor in how you will approach selling your home. It will impact the entire selling process: from determining your asking price, to the time it takes you to sell it, to the money and effort you invest in preparing your home for sale.
Be discreet about your reasons for selling. By keeping your information personal and private, the buyer will not be able to take advantage of it during negotiations. If asked why you decided to sell, simply answer that your housing needs have changed.
Before setting your price, please consult a good listing agent. As a seller, you want to get a sales price as close to the market price as possible. If you set the price too high initially, you risk not being taken seriously by buyers and your home remaining on the market for a long time. You must avoid overvaluation at all costs if you are in a buyer’s market. Furthermore, if the price you ask is too low, you can lose thousands of dollars.
Do some prospecting on your own. The best way to learn about your competition (homes currently for sale) is to review the competitive market with a good listing agent. Note not only the sales prices of homes comparable to yours, but also the number of days they have been on the market.
Have your property appraised. A good appraisal can be a huge advantage in marketing your home. It lets potential buyers know that your home can be financed by lenders. However, the evaluation is not a guarantee that you will obtain the asking price, but will be proof of serious expertise.
Some people think that the municipal assessment, used to determine property taxes, is a way of determining the value of a house when it is put up for sale. Under the current tax system, usually the assessment of a house for a given year corresponds to its value, determined on July 1 of the second preceding year. For example, the 2010 assessment of a house is its value, determined as of July 1, 2008.
Find a good real estate agent. More than 25% of sellers say they would be willing to work with the agent who previously sold their home again. Here are the main reasons: • Excellent communication • Frequent reporting • A good marketing strategy • A suitable marketing plan Take the time to find the agent who will meet your needs and help you achieve your objectives throughout the sales process.
Before settling on an asking price, make sure you leave yourself some room to negotiate. Remember, a buyer is more likely to make a full-price offer on a home that is fairly priced than to make a low offer on a home that is priced too high.
It is very important to take care of the appearance of your house in order to sell it. Making it attractive is essential and not insignificant since it arouses a greater emotional reaction in the potential buyer. This factor is predominant over all others.
Ask others for their opinions. The biggest mistake you can make is relying solely on your own judgment. Don’t hesitate to ask for advice from people you trust. You need to be objective about the strengths and weaknesses of your home. Work with a real estate agent, they will tell you, from an honest and unbiased perspective, what needs to be done to make your home more marketable.
Everything must be very clean, do not neglect any detail. Potential buyers are looking for excuses not to buy your house at the asking price. It would be a shame if they went elsewhere because of trivial things, like a tiny stain in the bathroom tub or dirty dishes in the kitchen sink.
Allow potential buyers to see themselves in your home. Your attitude is decisive since it can be welcoming or, on the contrary, make you feel like an intruder. Avoid clutter such as too many knick-knacks, clothes lying around or dirty dishes in the sink. Decorate with neutral colored items (white or beige) and add a little warmth or character in a few carefully chosen places.
Eliminate bad odors. Suspicious food odors, pet odors or cigarette odors can kill a sale quickly. If potential buyers see a dog or see you smoking a cigarette or cigar, they will see stains everywhere or smell odors, even if there aren't any. Do not provide them with arguments to negotiate your price downward.
Disclose absolutely everything to buyers. Sellers must be transparent in disclosing all known defects in their home in writing. This will reduce your liability and avoid costly lawsuits later. What would be ideal would be if your home had no defects to disclose.
The prospects of having more than one buyer is desirable. Work closely with your real estate agent to maximize your marketing. Having multiple potential buyers can result in multiple offers, giving you a greater chance of meeting or even exceeding your price.
Leave your emotions aside during negotiation sessions. Take a detached air, which will give you an advantage over someone who shows too much attachment to their property. Additionally, express the love you have invested in your home and how lucky potential buyers are to benefit from your investment.
Find out what motivates the buyer to want your home. Knowing your buyer better will give you leverage during negotiations. Generally speaking, buyers seek to acquire the best property, according to their budget, at the best price. If you learn that the buyer needs to move in quickly, this can help you get a better price.
Favor the pre-approved buyer. Preferably work with buyers who are pre-approved for a home loan so as not to waste your time with buyers who may not have the funds necessary to purchase your home.
Find out when the buyer wants to close the transaction. Knowing this deadline can create a new advantage in order to obtain the most money possible.
Don’t close on the purchase of your new home without being absolutely sure you’ve sold yours. You may find yourself stuck with two mortgage payments.
Moving before selling can also put you at a disadvantage. Empty homes sometimes give the impression of being abandoned or neglected. Buyers, knowing you already have another home, may want to negotiate down.
Setting a deadline is a serious disadvantage. Don’t try to sell by a certain date, unless, of course, you have to. This adds unnecessary pressure to the sales process and can cost you thousands of dollars off the asking price.
Don't be offended if the buyer makes you an offer that's too low. Invariably, the initial offer is lower than your expectations and what the buyer is actually willing to pay. Do not get mad. Evaluate the offer objectively since it is simply a starting point for negotiation.
You can counter a very low offer compared to the asking price by making a counter-offer, just a little below your price. This way of doing things tells the buyer that you are flexible, but that you are not taking their low offer seriously.
There are three responses to a purchase proposal: we accept, we categorically refuse, we make a counter-proposal (containing conditions of sale different from those of the proposal). A good negotiator never refuses a proposal, he always keeps a possibility, a way out, while showing creativity.
Make sure the contract is completed. To avoid problems, ensure that all terms, costs and responsibilities set out in the sales contract have been met to the satisfaction of both seller and buyer. In order to eliminate complications later, it is very important to include everything and not omit anything.
Resist the temptation to change any aspect of the contract. Don’t risk losing the sale because of a single, seemingly insignificant, deviation from the agreed contract.
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